Another Deal Sheet!
SALES
An affiliate of Midwest Industrial Funds, repped by CBRE’s Mike Caprile, Ted Staszak, Stephanie Park, and Clare Liston, sold a Class-A, 206k SF distribution center at 700 E Dayton Rd in Ottowa to an affiliate of Binswanger Cos. The property was originally developed by Midwest Industrial Funds in ’07 as a build-to-suit for Clover Technologies and continues to be leased by Clover.
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Kiser Group principal Lee Kiser and senior managing director Bill Baumann repped both sides in the $3.9M sale of a 64-unit apartment building (above) at 5326 S Cornell in Hyde Park.
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The Missner Group and JV partner Baker Development Corp acquired two land sites on the North Side: a three-acre site of contiguous properties at 3050 N Rockwell and 3067 N Elston, as well as 3.2 acres of vacant land at 3500 N Spalding. The JV plans to redevelop and hold the properties as an investment for the next several years.
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A 27-unit mixed-use building at 2209 S 61st Ct in Cicero sold for $1.3M. The fully occupied building includes eight one-bedroom apartments, 16 studios, and three commercial spaces. Kiser Group managing director John Meyer repped both sides in the sale.
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NAI Hiffman EVP Brian Colson and VP Eric Fischer repped DCT Industrial Trust in the purchase of a 174k SF industrial building (above) at 1501 N Michael Dr in Wood Dale from Heitman. At the same time, Brian and Eric repped Hyper Microsystems in leasing the space for its new corporate HQ and Chicago area distribution center. CBRE’s Mike Sedjo and Jack Brennan repped Heitman.
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A four-flat at 2028 N Bissell in Lincoln Park sold for $1.1M. Kiser Group principal Lee Kiser and managing director Michael D’Agostino repped both sides.
LEASING
Tri-Fin signed a lease renewal (valued at $976k) for a 43k SF industrial facility at 925 Hilltop Dr in Itasca. Podolsky|Circle CORFAC International principal Steven Podolsky brokered the transaction along with Liberty Property’s Neal Driscoll. Liberty Property Trust acquired the building from Cabot Industrial Value Fund III in October as part of a 23M SF national portfolio acquisition.
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CBRE’s Zach Graham, Keith Puritz, Brett Kroner, and Ryan Bain repped Clarion Partners in a 41k SF lease to Polymax Thermoplastics at 3210 Oak Grove Ave in Waukegan. Located in the Oak Grove Business Park, the facility features parking for 60 cars.
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Colliers VP Kelly Joyce repped EZ Worldwide Express in a 27k SF new lease at 60k SF 377 Meyer Rd in Bensenville. This is the first Midwest location for the NJ-based freight and delivery company. CBRE’s Kevin Segerson repped ownership, Liberty Property Trust.
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ABC Truck & Body Repair signed a 16k SF flex/warehouse lease at 1463 Lunt Ave in Elk Grove Village. JBS Commercial Real Estate associate broker Edgar Cervantes repped the tenant. Lee & Associates of Illinois’s Chris Nelson repped the owner, Venture One.
EXECUTIVE MOVES
Three commercial brokers joined @properties Commercial: Robert Sadoff, an MSU grad, came on as senior broker from First Hospitality Group; Rick Kosberg (CPA and bachelor’s from U of I, Master’s from UChicago) came on as broker associate from @properties Residential; and Michael Wencel, a DePaul grad, came on as commercial realty professional from One Chicago Realty.
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Fearon Melton joined MB Real Estate’s healthcare division as a senior associate, responsible for performing financial and market analysis, valuation modeling, and due diligence for potential acquisitions, as well as underwriting and risk analysis for the early stages of development opportunities. Fearon recently completed her MBA at the Kellogg School of Management and received her BA from UNC Chapel Hill.
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CBRE tapped John Konrath, Jr., as managing director on the Chicago valuation and advisory services team. He was previously managing director of the Landauer Valuation & Advisory office in Chicago. John received his BS in business and communications from ASU in Tempe, Ariz.
BUSINESS
Transwestern acquired Chicago-based Epic Realty Partners, adding a 20-member team of industrial professionals and establishing Transwestern as one of the top five industrial real estate providers in the largest industrial market in the US. In 2013, Epic completed 225 transactions totaling 9.2M SF and valued at $216.7M. The newly acquired firm will operate from its office in Rosemont.
